• USD/CAD dipped on Monday as investors awaited trade developments in the U.S. and central bank decisions in emerging Europe
• Investors remained focused on potential trade developments with the United States, as the Philippine president prepares to meet with President Trump this week in hopes of securing a trade deal.
• So far, only the UK, China, Indonesia, and Vietnam have reached trade agreements with the U.S. since Trump’s sweeping tariffs disrupted global markets. However, investors are betting on more deals ahead of the revised August 1 deadline.
• Meanwhile, domestic investors awaited the Bank of Canada’s Business Outlook Survey, due later in the day, for insights into business sentiment amid ongoing tariff-related uncertainty.
. •At GMT 15:53, the pair was trading down 0.26 percent at 1.3690
• Immediate resistance is located at 1.3742(38.2%fib), any close above will push the pair towards 1.3825(Higher BB).
• Support is seen at 1.3676(SMA 20) and breakbelow could take the pair towards 1.3572(23.6%fib).
Recommendation: Good to buy around 1.3650, with stop loss of 1.3600 and target price of 1.3750
